Hi, on Sunday I explained that this week was all about the Gbp.
In Tuesday’s live training session I then showed how I had taken a trade on the Gbp/$ in preparation for the interest rate announcement today.
My thought at that time was if it could get 40 or 50 pips in profit I would move the stop to entry and cross my fingers, the trade would be risk free with a potential decent profit if it went up.
That plan wasn’t working, so I took some profit and moved my stop closer to reduce the risk.
I show in the video how I had also shorted the Euro/Gbp for the same reasons. This entry was based on Sunday’s analysis to short at 0.8590.
Prior to the news I took some profit from both trades and was covered if they lost. I now had a completely risk free trade.
See the video as its easier to see my strategy, what I did and how many pips I bagged 🙂
Excuse the rushed narrative, I was trying to manage 2 live accounts whilst recording this video on a demo for you, so it was all a bit stressful!
If you would like to learn how to trade like a professional check out our 5* rated forex mentor program, RISK FREE; by clicking on the “Get Started Today” Button below